Is 2022 the Right Year to Begin a Career in Data Science?

In the past few years, data science began to become well-known. There was a lot of excitement about the field, and people of all backgrounds were eager to get to data science.

Master's degrees in data science began to gain popularity, and many online data science courses were available on the Internet. Students were flocking to websites like IMC Institute, Datacamp, and Udemy to earn certifications in data science and get on the job market.

It's exactly what we'll be looking at in this post. Is 2022 the right year to begin a career in data science?

What is Data Science?

In simple terms, data science is the study of and using data to make educated business decisions and develop innovative products or services. The people who are in charge of executing the procedure are data science as well as analytics in data science.

What Do Data Scientists and Data Science Analysts Do?

Analysts and Data Scientists or Data Science Analysts are responsible for analyzing historical user data, predicting users' future behaviour and presenting these data to the management for them to make better business decisions. The work typically involves the creation of economic and statistical models and employing modern machine learning software that summarizes and displays the data.

Data Scientist vs Data Science Analyst

What makes a data scientist different from a data science analyst in the field of a data scientist?

A data scientist can do all that analysts in the field of data science can accomplish and more. Data scientists are more experienced in the field of data science across various domains regardless of whether they hold degrees in data science. They can use their knowledge to spot issues and develop the best solutions from beginning to end. They are not only experts in computational and empirical skills; they also possess the ability to spot the problems that require data science to make an informed decision for the business.

However, despite the differences, the two roles of an analyst and a data scientist analyst in data science have an important part in today's organizations. The next section will examine aspects that indicate that data science specialists will not be out of the field soon and why data science will remain an ideal career choice for 2022.

Why is 2022 the Right Year to Begin a Career in Data Science?

Let's look at some factors that suggest 2022 is the Right Year to Begin a Career in Data Science.

1. High Demand

Data today is certainly probably the best of commodities, whether perishable or not. It doesn't matter if it's Google, Amazon, or Facebook (now Meta); all major companies rely on data to enhance the customer experience, boost profits and reach their strategic objectives. The issue is that data is available in various forms and formats, as well as unstructured or structured formats across multiple places. Therefore, businesses always need professionals in data science to collect data, organize and analyze it, draw valuable insights and then provide it to businesses for more informed decisions.

Jobs in data science have increased by an astounding 650% from 2012. Glassdoor announced that 1,700 jobs in 2016 were advertised, with data science being the main job. This number was 4,500 for 2018 and 6,500 by 2020. In 2019 the field of data science was recognized by LinkedIn as the top lucrative job, with a 60% increase in the number of job openings in the US by itself. The Covid-19 disaster may not stop the demand for data science experts; 42 per cent of companies in data science are not impacted, and an 8 per cent increase in size.

2. Short Supply

As people began to upskill themselves to work in data science in 2012 and beyond, the way to learn was mostly by reading books, as little information was readily available online, or advanced programming languages didn't exist. Also, the conventional educational system provides specialized classes or certifications in data science to prepare those looking to pursue a career in data science. To date, the field of data science is relatively new and unexplored. According to estimates, there is a shortage of 150,000-2,00,000. Data science professionals across the globe. So, if there ever was a moment to pursue data science as a profession, it's now.

3. Future Growth Potential

The field of data science is full of opportunities, and the demand always outweighs the supply. According to a report released by the US Bureau of Labor Statistics, The number of jobs available in the field of data science will increase by around 28 per cent by 2026. That translates into 11.5 million new jobs in data science. The Future of Work Report 2020, which the World Economic Forum compiled, has forecast that the position with the highest growth rate and demand by 2025 will be the position of a data scientist.

4. Fat Pay Packages

Potential for growth and career opportunities aside, however, the amount the career option can bring is an important factor when taking it on. Data science careers do provide lucrative salaries. According to Glassdoor, the median wage for the US workforce is $49,800. The median income for professionals in the field of data science is $1,08,000, which is nearly two times the average for the nation. In the 2021 India Talent Trends report submitted by the recruitment company Michael Page, data science professionals with experience that spans 3-10 years are expected to earn between 25 and 65 lakhs per year. Professionals with more experience make more than a million.

5. Availability of Exclusive Courses and Data Science Certifications

The job of professionals in data science evolves every day and requires expertise in the field. Numerous professional associations recognize this and plan to create licensing and certification requirements for professionals working in data science. Fortunately, unlike a few years ago, several technical institutions have included data science in their undergraduate curriculum to equip future data science professionals with the requisite knowledge, skills, and universally-recognized data science certifications.

Final Thoughts

The emergence of new technologies such as Quantum or Cloud computing, Blockchain, AI, and Machine Learning have altered the nature of the workforce worldwide, including data science professionals. But, the rapid growth of demand, the future possibilities for the field of data science and the rise in the number of institutes providing specialized data science certification are enough evidence to conclude that professionals in data science aren't going anyplace for a long period so, if you think that 2022 the right year to begin a career in data science The answer is an unquestionable yes.